For sale by owners (FSBO) or “fizbo” means selling your house without the help or service or a licensed real estate agent. For Sale By Owner Minneapolis has many advantages and disadvantages. If you are thinking about going this route, below are a few things you need to know about:
One of the reasons why homeowners go the FSBO route is due to repairs. In some cases, homeowners don’t have money to fix issues in their home and to sell quickly. Most of the time, For Sale By Owner Minneapolis homes that need repairs sell below asking price when listed.
However, not repairing the house can actually be advantageous for sellers. Firstly, you don’t have to invest time and money to fix every single repair. Secondly, even though you will get less money, you don’t have to deal with lengthy repairs and can even end up saving money in the long run.
One of the best reasons why many prefer to go the For Sale By Owner Minneapolis route is more money. Since there are no real estate agents involved there is no need to pay commission. According to UpNest.com, the commission range for Minnesota real estate agents range from 4.5 to 6%, this means that if your house is selling for $500,000 you can end up paying the realtor $30,000 in commission from the sale of your property.
Having control over where you advertise is also another great advantage of For Sale By Owner Minneapolis. You can choose whether you want to advertise online, offline or both. You can also control which social media and real estate sites you want to advertise your property.
Controlling the exposure of your property can help you manage who gets to see your home and if you want to hold an open house.
It is easier to sell your house to a cash buyer using this method. If a buyer is interested in buying your house for cash, negotiations will be quick and easy. There will be no need to go back and forth with a realtor because you can negotiate directly with the buyer.
Thinking of selling your house? Would you like to learn more about all the options available to you? Call the real estate solutions team at Gold Path Real Estate today to discuss your specific real estate situation at 612-758-0071. Alternatively, see click below to download your no obligation FREE home selling report NOW.